Dr Dre names highest paid musician

Dr. Dre has been named the highest-paid musician of 2014 by Forbes magazine with earnings of a staggering $620 million

Dr. Dre has been named the highest-paid musician of 2014 by Forbes magazine.

The music mogul topped the financial bible's annual list after picking up a staggering $620 million in the last year, largely due to the sale of his Beat Electronics company to Apple.

His huge fortune makes second-placed Beyonce's $115 million seem tiny in comparison, though she was one of only two other stars to earn over $100 million, with third placed The Eagles taking home exactly that sum, largely thanks to a world tour.

In fourth place were Bon Jovi, who earned $82 million and attributed their fortune to being "efficient" and keeping entourage costs to a minimum.

Frontman Jon Bon Jovi said: "I think it's just wise to be efficient. I know big bands where each of them have personal assistants on the road, each of them has a security guard. We don't have a security guard. Take your own friggin' bags!"

Rounding out the top five was veteran rocker Bruce Springsteen, just $1 million behind Bon Jovi with $81 million.

Forbes spoke to industry experts and compiled income from touring, recorded music, publishing, merchandise sales, endorsements and other ventures from the period June 2013 to June 2014 to produce the rankings.